Confederation of Indian Industry has said that India can achieve a gross domestic product (GDP) growth of 10 per cent by fiscal year 2019-20 on the back of wonderful opportunities available in the economy.
Commenting on the issue, Confederation of Indian Industry (CII) President Shobana Kamineni told the media, "We strongly believe that India can build up to a 10 per cent GDP growth in the next three years. For the current year, CII analysis shows the GDP growth rate can be 8 per cent."
"This can be achieved by targeting 1 per cent additional growth each year that would also lead to creating many more jobs. It is eminently possible to create 5 million jobs each year, if the GDP growth rate can be boosted by an extra 1 per cent. CII's analysis shows that as of now, we are creating about 3.7 million jobs annually," Kamineni said.
"The drivers for this step up in growth would include the benefits from implementation of GST, and greater participation of women in the labour force," she added.